MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BBG Sources: Nidec & KPS Submit Second-Round Bids For Siemens AG’s Innomotics

TECHNOLOGY


  • BBG sources report that Siemens AG's Innomotics large motors business, valued at EUR 3bn, has attracted second-round bids from Japan's Nidec Corp. and KPS Capital Partners.
  • Innomotics specializes in heavy-duty electric motors for ships and mining, with EBITDA between EUR 300mn to EUR 400mn annually.
  • Innomatice has been carved out as a legally sperate business in advance of the move, aligning with its strategy to exit heavy-equipment sectors for higher-margin, software-driven products. This sale would significantly progress Siemens's business transformation.
  • Not a spread mover for Siemens given their plans to divest were known; Nidec’s sole EUR bond is 2bps tighter in early trading – the mid-point of the EBITDA range given for Innomotics represents ~0.2x turns of Nidec EBITDA and is a major strategic step as it ventures into EV motors under its new leadership.
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.